International Monetary Fund Managing Director Kristalina Georgieva warned on Thursday that central banks face growing political pressure to cut interest...
WASHINGTON - International Monetary Fund Managing Director Kristalina Georgieva warned on Thursday that central banks face growing political pressure to cut interest rates during a major election year but policymakers need to maintain their independence.
She said that central bankers' success in preventing a global financial meltdown during the COVID-19 pandemic was quickly followed by monetary tightening to bring down inflation. Both efforts were a function of their independence and the credibility that goes along with that. Federal Reserve Chair Jerome Powell said on Wednesday that the U.S. central bank was still on track for three rate cuts this year, but their timing depended on Fed officials becoming more confident that inflation was declining towards a 2% target even as the economy outperforms expectations.
She added that the IMF stood ready to provide technical assistance to member countries that were seeking to strengthen their monetary policy frameworks. Biden impeachment hearing descends into chaos as lawmaker caught on hot mic branding it ‘Jurassic Park’Retired Gen. Mark Milley, former chair of the Joint Chiefs of Staff, refused to trade barbs with former President Trump on Tuesday after being reminded of Trump’s social media post last year saying he should be executed. Trump said in September 2023 that Milley committed treason and should be put to death, threats that raised…Fox NewsPeter Navarro has apparently lost Fox News.
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